Aussie firm on hunt for climate-focused start-ups in region

Venture capital firm Investible driving move via 203m fund to be run out of Singapore

- Angela Tan

A Sydney-based venture capital firm is on the hunt for climate-focused technology start-up investments in Singapore and neighbouring countries.

Investible chief executive Rod Bristow told The Straits Times that the company is driving the initiative via a US$150 million (S$203 million) fund it is setting up with Indonesia's biggest bank, Bank Mandiri.

The partners are in talks with potential investors, ranging from institutions to sovereign funds, family offices and wealthy individuals, Mr Bristow added.

The Mandiri Investible Global Climate Tech Fund will invest in emerging technologies that will help deliver net-zero emissions to tackle climate change.

Its investments will have a South-east Asian focus, with up to 30 per cent earmarked for Indonesia.

The fund will be run out of Singapore, where Investible has had an office since 2018 and now employs 10 people.

"Since 2018, we have invested in 15 companies in South-east Asia and are now actively reviewing opportunities in markets around the region, including Singapore, Malaysia, Indonesia, India, the Philippines and Vietnam," Mr Bristow said.